Page 318 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

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9/19/24, 11:55 AM UAE’s GDP totals AED 430bln in Q1 2024 with 3.4 per cent growth
rise in the government’s public capital expenditures, reaching AED 4.8 billion, compared to that of Q1
2023.

The restaurant and hotel sector secured the fourth spot with a 4.6 per cent growth during the first quarter
of 2024 compared to the corresponding period in 2023. Moreover, the UAE emerged at the forefront of

global tourism landscape, attracting a substantial number of tourists from around the world. In particular,
Dubai witnessed a remarkable influx of 5.18 million international tourists, representing an 11 per cent
increase as compared to the corresponding period in 2023. Abu Dhabi also maintained its exceptional
performance in key tourism indicators, including the average hotel occupancy rates and revenue per

available rooms.

Non-oil economic activities contribute significantly to non-oil GDP

Trade activities made the largest contribution to the non-oil GDP, accounting for 16.1 per cent.
Manufacturing activities come in second at 14.6 per cent, with financial and insurance activities ranking
third at a rate of 13.4 per cent. Construction and building activities contribute 11.8 per cent, followed by

the real estate activities with a contribution of 7.1 per cent.

-Ends-

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